Two-Family Property with
New
For Sale
$649,900
31-33 Stow Road, Boston, MA 02126
R2-zoned property with separate living areas, a driveway, and off-street parking.
Property Size2,455 SF
Price / SF$264.73
Days on Market3
Property Features for 31-33 Stow Road
General Information
Standard status
Active
Size
2,455 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
R2
Net Operating Income
$19,200
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,712
Building Details
Building Size
2,455 SF
Year Built
1910
Stories
2
Listing Agency:
LAER Realty Partners
Listed By:
Victor Bishop
(617) 921-3647
Source:
Laerrealty
Added: Sep 4
Last Checked: Sep 5 at 4:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LAER Realty Partners
Investment Insights
Based on property information with market context.
This 2,455-square-foot two-family property, built in 1910, includes two residential units with spacious living areas and distinct layouts. The upper unit is expected to be vacant at delivery and includes two bedrooms with room for a third. The first-floor apartment has one to two bedrooms and one bathroom and is newly leased. The property is being sold as-is.
A garage, driveway, and off-street parking provide practical on-site amenities. Additional space includes a full bathroom in the basement, an insulated attic, and a cedar closet. The basement and attic may offer future expansion possibilities, subject to buyer due diligence and applicable approvals. The property is located on a dead-end street in Boston and carries R2 zoning.
A garage, driveway, and off-street parking provide practical on-site amenities. Additional space includes a full bathroom in the basement, an insulated attic, and a cedar closet. The basement and attic may offer future expansion possibilities, subject to buyer due diligence and applicable approvals. The property is located on a dead-end street in Boston and carries R2 zoning.
Key Highlights
- 2,455‑square‑foot two‑family property built in 1910
- Upper unit to be delivered vacant with 2 bedrooms and potential for a third
- First‑floor unit offers 1‑2 bedrooms and 1 bathroom and is newly leased
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,673
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,153,460
$1.2M
Cap Rate 7%
$823,900
$823.9K
Cap Rate 9%
$640,811
$640.8K
Market Conditions
NOI Build-Up for 2,455 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$109.0K $44.40/SF
− Vacancy
−$4.1K −$1.69/SF
EGI
$104.9K $42.71/SF
− OpEx
−$47.2K −$19.22/SF
NOI
$57.7K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,153,460
Cap Rate 7%
$823,900
Cap Rate 9%
$640,811
Alternative Uses
Best Use
Multifamily LT 5
$886.2K
$775.5K – $1.03M
NOI $62,036 @ 7.0% cap · market cap 9.55%
Second Best
Apartment 5plus
$823.9K
$720.9K – $961.2K
NOI $57,673 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,681 @ 7.0% cap · market cap 19.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
912
Businesses Nearby
Explore this area
Business Placement
Demographics for 02126, MA
22,734
Population
9,617
Households
2.4
Avg Household Size
38
Median Age
24%
College-Educated
87%
High-School Grad
1.8 sq mi
ZIP Area
12,630
Density / Sq Mi
$67,206
Median Household Income
$42,397
Median Earnings
$1,659
Median Rent
$515,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned property with separate living areas, a driveway, and off-street parking.
Where is this duplex located?
The property is located at 31-33 Stow Road Boston, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 2,455‑square‑foot two‑family property built in 1910; Upper unit to be delivered vacant with 2 bedrooms and potential for a third; First‑floor unit offers 1‑2 bedrooms and 1 bathroom and is newly leased
